Increase in Underground Project Costs - Ministry of Economy and Finance Reassesses Project Feasibility, Total Project Cost Set at 1.4489 Trillion Won

Basic Plan Approved for 2026 Construction Start Target, Related Administrative Procedures to Be Expedited

With the total project cost for the urban railway "Hadan-Noksan Line," a long-awaited and core project for the western region of Busan, now finalized, the project is expected to gain momentum.

Urban Railway Hadan to Noksan Line Map.

Urban Railway Hadan to Noksan Line Map.

View original image

The confirmed total project cost of 1.4489 trillion KRW includes the underground section in Myeongji International New City, which is an increase of 322.4 billion KRW from the original preliminary feasibility study estimate of 1.1265 trillion KRW.


The "Hadan-Noksan Line" will extend the currently under-construction "Sasang-Hadan Line," connecting Hadan Station to Eulsukdo, Myeongji International New City, and Noksan National Industrial Complex over a total distance of 13.47 km. The project passed the preliminary feasibility study in June 2022 and is currently undergoing the basic plan approval process.


During the formulation of the basic plan, the city incorporated residents' suggestions from a public hearing to construct the "Myeongji International New City section" underground, reflecting this in the draft basic plan for the "Hadan-Noksan Line" and submitted it for government (Ministry of Land, Infrastructure and Transport) approval in October last year.


The underground section in Myeongji International New City spans from Station 104 to Station 106, totaling 2.3 km.


However, due to the increased project cost resulting from the underground construction, the Ministry of Economy and Finance conducted a "project plan adequacy review," and the finalized basic plan project cost was notified to the Ministry of Land, Infrastructure and Transport on August 23.


The city expects that with the full-scale promotion of the "Hadan-Noksan Line" urban railway project, the expansion of urban railway infrastructure in the western region of Busan will provide residents with more public transportation options and create a safer and more pleasant transportation environment.


Additionally, it is anticipated that the project will improve transportation convenience for workers in Noksan National Industrial Complex and local residents, as well as increase the share of public transportation usage.


Mayor Park Hyungjoon stated, "With the total project cost for our city's core project, the 'Hadan-Noksan Line,' now confirmed, we will promptly proceed with related administrative procedures such as basic plan approval and various reviews, and will do our utmost to begin construction in 2026 by commencing design and procurement within this year."





This content was produced with the assistance of AI translation services.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.

Today’s Briefing